Re: (ndc) West Va & that other place


"JimK" <jkezwind@comcastDOTnet> wrote in message
news:6e6es1t416kjhho0r36hpcftntsrmrf97q@xxxxxxxxxx
> On Thu, 12 Jan 2006 17:21:44 -0800, "Everybody's Gonna Be Happy"
> <Davko58@xxxxxxxxxxxxxxxxxx> wrote:

>>I have yet to hear of a company that offers only their stock as an option
>>in
>>their 401k. I'm sure there are some out there, but why would anyone
>>choose
>>to invest in something so risky?
>>
>>Most 401k's offer 5, 10, 20, even 50 different mutual funds, money market
>>funds, bond funds, blended funds, of all risk levels from outta sight
>>crazy
>>to ultra conservative.
>>
>>Back when I worked for aliving, my company had 12 options. I did very
>>well
>>after utilizing the reams of free information they sent me on a regular
>>basis.

> From what I've seen and heard of most 401k type plans, they generally
> offer a limited number of mostly underperforming mutual funds that
> charge exorbitant management fees. In many of those plans, you're also
> limited as to the frequency with which you can transfer your money
> between funds to take advantage of financial trends. Can a reasonably
> savvy investor make money in them? Sure, but they're still not what I
> would consider top notch investment options.

Everyone I know with a 401k is quite satisfied with both the options offered
and the fees. My funds out performed the market and had very low fees, just
like the ones in my IRA.

If someone's plan sucks, they should think about skipping it and doing
something else. Of course company matches can make them quite worthwhile
even if the funds underperform and have exorbitant fees. If a company
matches your contributions with 25, 50, 100%, hey man, that's pretty good
performance even if the funds blow.

>>Pensions are entirely different animals. Most are being eliminated and ya
>>never know if the company will even exist when you hit retirement age.
>>But
>>you don't generally contribute to those.

> Really? I contributed to my pension plan, and I'm fairly certain
> that's the norm.

Huh. I paid nothing. Of course I get almost nothing............

Oh wait, free health care!

Too bad hardly anyone else gets that, and too bad in a few years my company
will probably charge outrageous amounts for retiree health care or do away
with it altogether.

>>Everyone has disposable income. They would rather spend it on vacations,
>>big houses, fancy cars, cigarettes, Friday night at the redneck bar, truck
>>bedliners, whatever. There is no excuse for anyone making over the
>>minumum
>>wage not to be saving something.

> Yeah, god forbid that somebody making $7.50 an hour should have a
> little fun and enjoy life a bit instead of stashing $15 a week in an
> investment plan so that he can retire at a hair above poverty level.
> How selfish and imprudent!

I didn't say that, but if you choose to ignore your future for today then
you won't have much in the future. Just the way it is. I see people here
bagging on those going into debt to buy things all the time.

I know my folks sacrificed a lot so they could have money in retirement.
Hell, so did I. And I never made close to 6 figures, ever. I drove 10
year old cars and had roommates and vacationed in my backyard for many
years. I saved and contributed and scrimped and still managed to have a
little fun along the way.

Now I'm retired before hitting 50 and am quite comfortable.

EGBH


.

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